2016 Annual Report for Norwegian Cruiseline Holdings - F-21

The effects on the consolidated financial statements of the foreign currency options which were designated as cash flow hedges were as follows
(in thousands):
2016

Loss recognized in other comprehensive income (loss) - effective portion
Loss recognized in other income (expense), net - ineffective portion
Amount reclassified from accumulated comprehensive income (loss) into
depreciation and amortization expense

$

Year Ended December 31,
2015

-
-

$

1,320

-
-

$

2014

(1,157)
(241)

1,320

1,269

Foreign Currency Forward Contracts
As of December 31, 2016, we had foreign currency forward contracts which are used to mitigate the financial impact of volatility in foreign
currency exchange rates related to our ship construction contracts denominated in euros. The notional amount of our foreign currency forward
contracts was €2.6 billion, or $2.7 billion based on the euro/U.S. dollar exchange rate as of December 31, 2016.
The effects on the consolidated financial statements of the foreign currency forward contracts which were designated as cash flow hedges were as
follows (in thousands):
2016

Loss recognized in other comprehensive income (loss) - effective portion
Loss recognized in other income (expense), net - ineffective portion
Amount reclassified from accumulated comprehensive income (loss) into
depreciation and amortization expense

$

Year Ended December 31,
2015

(124,058) $
(270)

(84,187) $
(343)

2,625

116

2014

(30,686)
(7)
(243)

The effects on the consolidated financial statements of the foreign currency forward contracts which were not designated as hedging instruments
were as follows (in thousands):
2016

Gain (loss) recognized in other income (expense), net

$

Year Ended December 31,
2015

(6,133) $

684

2014

$

-

Foreign Currency Collar
We had foreign currency collars that matured and were used to mitigate the volatility of foreign currency exchange rates related to our ship
construction contracts denominated in euros.
The effects on the consolidated financial statements of the foreign currency collar which was designated as a cash flow hedge was as follows (in
thousands):
2016

Loss recognized in other comprehensive income (loss) - effective portion
Amount reclassified from accumulated comprehensive income (loss) into
depreciation and amortization expense

$

Year Ended December 31,
2015

-

$

(364)

-

$

2014

(1,588)

(364)

(333)

The effect on the consolidated financial statements of the foreign currency collar which was not designated as a cash flow hedge was as follows
(in thousands):
2016

Gain (loss) recognized in other income (expense), net

$

Year Ended December 31,
2015

10,312

$

(26,249) $

2014

(6,980)

Interest Rate Swaps
As of December 31, 2016, we had interest rate swap agreements to hedge our exposure to interest rate movements and to manage our interest
expense. The notional amount of outstanding debt associated with the interest rate swap agreements was $308.5 million as of December 31, 2016.
The effects on the consolidated financial statements of the interest rate swaps which were designated as cash flow hedges were as follows (in
thousands):
2016

Loss recognized in other comprehensive income (loss) - effective portion
$
Gain (loss) recognized in other income (expense), net - ineffective portion
Amount reclassified from other comprehensive income (loss) into interest expense,
net
F-21

Year Ended December 31,
2015

(1,701) $
3
3,946

(5,152) $
(23)
4,614

2014

(5,386)
-
2,385



Table of Contents for the Digital Edition of 2016 Annual Report for Norwegian Cruiseline Holdings

Contents
2016 Annual Report for Norwegian Cruiseline Holdings - Cover1
2016 Annual Report for Norwegian Cruiseline Holdings - Cover2
2016 Annual Report for Norwegian Cruiseline Holdings - I
2016 Annual Report for Norwegian Cruiseline Holdings - II
2016 Annual Report for Norwegian Cruiseline Holdings - III
2016 Annual Report for Norwegian Cruiseline Holdings - IV
2016 Annual Report for Norwegian Cruiseline Holdings - V
2016 Annual Report for Norwegian Cruiseline Holdings - VI
2016 Annual Report for Norwegian Cruiseline Holdings - VII
2016 Annual Report for Norwegian Cruiseline Holdings - VIII
2016 Annual Report for Norwegian Cruiseline Holdings - IX
2016 Annual Report for Norwegian Cruiseline Holdings - X
2016 Annual Report for Norwegian Cruiseline Holdings - XI
2016 Annual Report for Norwegian Cruiseline Holdings - Contents
2016 Annual Report for Norwegian Cruiseline Holdings - 1
2016 Annual Report for Norwegian Cruiseline Holdings - 2
2016 Annual Report for Norwegian Cruiseline Holdings - 3
2016 Annual Report for Norwegian Cruiseline Holdings - 4
2016 Annual Report for Norwegian Cruiseline Holdings - 5
2016 Annual Report for Norwegian Cruiseline Holdings - 6
2016 Annual Report for Norwegian Cruiseline Holdings - 7
2016 Annual Report for Norwegian Cruiseline Holdings - 8
2016 Annual Report for Norwegian Cruiseline Holdings - 9
2016 Annual Report for Norwegian Cruiseline Holdings - 10
2016 Annual Report for Norwegian Cruiseline Holdings - 11
2016 Annual Report for Norwegian Cruiseline Holdings - 12
2016 Annual Report for Norwegian Cruiseline Holdings - 13
2016 Annual Report for Norwegian Cruiseline Holdings - 14
2016 Annual Report for Norwegian Cruiseline Holdings - 15
2016 Annual Report for Norwegian Cruiseline Holdings - 16
2016 Annual Report for Norwegian Cruiseline Holdings - 17
2016 Annual Report for Norwegian Cruiseline Holdings - 18
2016 Annual Report for Norwegian Cruiseline Holdings - 19
2016 Annual Report for Norwegian Cruiseline Holdings - 20
2016 Annual Report for Norwegian Cruiseline Holdings - 21
2016 Annual Report for Norwegian Cruiseline Holdings - 22
2016 Annual Report for Norwegian Cruiseline Holdings - 23
2016 Annual Report for Norwegian Cruiseline Holdings - 24
2016 Annual Report for Norwegian Cruiseline Holdings - 25
2016 Annual Report for Norwegian Cruiseline Holdings - 26
2016 Annual Report for Norwegian Cruiseline Holdings - 27
2016 Annual Report for Norwegian Cruiseline Holdings - 28
2016 Annual Report for Norwegian Cruiseline Holdings - 29
2016 Annual Report for Norwegian Cruiseline Holdings - 30
2016 Annual Report for Norwegian Cruiseline Holdings - 31
2016 Annual Report for Norwegian Cruiseline Holdings - 32
2016 Annual Report for Norwegian Cruiseline Holdings - 33
2016 Annual Report for Norwegian Cruiseline Holdings - 34
2016 Annual Report for Norwegian Cruiseline Holdings - 35
2016 Annual Report for Norwegian Cruiseline Holdings - 36
2016 Annual Report for Norwegian Cruiseline Holdings - 37
2016 Annual Report for Norwegian Cruiseline Holdings - 38
2016 Annual Report for Norwegian Cruiseline Holdings - 39
2016 Annual Report for Norwegian Cruiseline Holdings - 40
2016 Annual Report for Norwegian Cruiseline Holdings - 41
2016 Annual Report for Norwegian Cruiseline Holdings - 42
2016 Annual Report for Norwegian Cruiseline Holdings - 43
2016 Annual Report for Norwegian Cruiseline Holdings - 44
2016 Annual Report for Norwegian Cruiseline Holdings - 45
2016 Annual Report for Norwegian Cruiseline Holdings - 46
2016 Annual Report for Norwegian Cruiseline Holdings - 47
2016 Annual Report for Norwegian Cruiseline Holdings - 48
2016 Annual Report for Norwegian Cruiseline Holdings - 49
2016 Annual Report for Norwegian Cruiseline Holdings - 50
2016 Annual Report for Norwegian Cruiseline Holdings - 51
2016 Annual Report for Norwegian Cruiseline Holdings - 52
2016 Annual Report for Norwegian Cruiseline Holdings - 53
2016 Annual Report for Norwegian Cruiseline Holdings - F-1
2016 Annual Report for Norwegian Cruiseline Holdings - F-2
2016 Annual Report for Norwegian Cruiseline Holdings - F-3
2016 Annual Report for Norwegian Cruiseline Holdings - F-4
2016 Annual Report for Norwegian Cruiseline Holdings - F-5
2016 Annual Report for Norwegian Cruiseline Holdings - F-6
2016 Annual Report for Norwegian Cruiseline Holdings - F-7
2016 Annual Report for Norwegian Cruiseline Holdings - F-8
2016 Annual Report for Norwegian Cruiseline Holdings - F-9
2016 Annual Report for Norwegian Cruiseline Holdings - F-10
2016 Annual Report for Norwegian Cruiseline Holdings - F-11
2016 Annual Report for Norwegian Cruiseline Holdings - F-12
2016 Annual Report for Norwegian Cruiseline Holdings - F-13
2016 Annual Report for Norwegian Cruiseline Holdings - F-14
2016 Annual Report for Norwegian Cruiseline Holdings - F-15
2016 Annual Report for Norwegian Cruiseline Holdings - F-16
2016 Annual Report for Norwegian Cruiseline Holdings - F-17
2016 Annual Report for Norwegian Cruiseline Holdings - F-18
2016 Annual Report for Norwegian Cruiseline Holdings - F-19
2016 Annual Report for Norwegian Cruiseline Holdings - F-20
2016 Annual Report for Norwegian Cruiseline Holdings - F-21
2016 Annual Report for Norwegian Cruiseline Holdings - F-22
2016 Annual Report for Norwegian Cruiseline Holdings - F-23
2016 Annual Report for Norwegian Cruiseline Holdings - F-24
2016 Annual Report for Norwegian Cruiseline Holdings - F-25
2016 Annual Report for Norwegian Cruiseline Holdings - F-26
2016 Annual Report for Norwegian Cruiseline Holdings - F-27
2016 Annual Report for Norwegian Cruiseline Holdings - F-28
2016 Annual Report for Norwegian Cruiseline Holdings - F-29
2016 Annual Report for Norwegian Cruiseline Holdings - F-30
2016 Annual Report for Norwegian Cruiseline Holdings - F-31
2016 Annual Report for Norwegian Cruiseline Holdings - F-32
2016 Annual Report for Norwegian Cruiseline Holdings - F-33
2016 Annual Report for Norwegian Cruiseline Holdings - F-34
2016 Annual Report for Norwegian Cruiseline Holdings - F-35
2016 Annual Report for Norwegian Cruiseline Holdings - F-36
2016 Annual Report for Norwegian Cruiseline Holdings - F-37
2016 Annual Report for Norwegian Cruiseline Holdings - Cover3
2016 Annual Report for Norwegian Cruiseline Holdings - Cover4
http://www.nxtbook.com/nxtbooks/ncl/japanesefleetbrochure_20192022
http://www.nxtbook.com/nxtbooks/ncl/italianfleetbrochure_20192021
http://www.nxtbook.com/nxtbooks/ncl/europecruisingguide2021_asia
http://www.nxtbook.com/nxtbooks/ncl/asiasouthpacificcruisingguide2019-2021
http://www.nxtbook.com/nxtbooks/ncl/europecruisingguide2021_apac
http://www.nxtbook.com/nxtbooks/ncl/asiaaunzcruisingguide_2019-2021
http://www.nxtbook.com/nxtbooks/ncl/hebrew_israeli_fleetbrochure_20192021
http://www.nxtbook.com/nxtbooks/ncl/thehaven2019_japanese
http://www.nxtbook.com/nxtbooks/ncl/meafleetbrochure_20192021
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2019-2022_asia
http://www.nxtbook.com/nxtbooks/ncl/alaskacruisingguide_japanese_20192021
http://www.nxtbook.com/nxtbooks/ncl/thehaven2019_asia
http://www.nxtbook.com/nxtbooks/ncl/charters_meetings_incentives_2019
http://www.nxtbook.com/nxtbooks/ncl/aunzfleetbrochure_20192021
http://www.nxtbook.com/nxtbooks/ncl/alaskacruisingguide_asia_20192021
http://www.nxtbook.com/nxtbooks/ncl/fleetsp_1921
http://www.nxtbook.com/nxtbooks/ncl/norwegian_cruisenews0619
http://www.nxtbook.com/nxtbooks/ncl/ukfleetbrochure_20192021
http://www.nxtbook.com/nxtbooks/ncl/alaskacruisingguide_aunz_20192021
http://www.nxtbook.com/nxtbooks/ncl/kreuzfahrten_weltweit_1921
http://www.nxtbook.com/nxtbooks/ncl/annualreport_2018
http://www.nxtbook.com/nxtbooks/ncl/stewardshipreport_2018
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2019-2021_eu
http://www.nxtbook.com/nxtbooks/ncl/thehaven2019_mea
http://www.nxtbook.com/nxtbooks/ncl/ncl_tradestarterpack
http://www.nxtbook.com/nxtbooks/ncl/europecruisingguide1920_mea
http://www.nxtbook.com/nxtbooks/ncl/hawaiicruisingguide_2019-2022
http://www.nxtbook.com/nxtbooks/ncl/asiaaunzcruisingguide_2019-2020
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2019-2020
http://www.nxtbook.com/nxtbooks/ncl/deckbydeck_20182019
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2019-2020sp
http://www.nxtbook.com/nxtbooks/ncl/europecruisingguide1920_aunz
http://www.nxtbook.com/nxtbooks/ncl/fleetIT_1820
http://www.nxtbook.com/nxtbooks/ncl/thehavenus_2018
http://www.nxtbook.com/nxtbooks/ncl/norwegianbliss18
http://www.nxtbook.com/nxtbooks/ncl/fleetsp_18
http://www.nxtbook.com/nxtbooks/ncl/alaskacruisingguide_2019
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2018-2020_aunz
http://www.nxtbook.com/nxtbooks/ncl/uknewitineraryleafletuk_20192020
http://www.nxtbook.com/nxtbooks/ncl/ce_dach
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2018-2020_mea
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2018-2020
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2018-2020_ce
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2018-2020_uk
http://www.nxtbook.com/nxtbooks/ncl/alaskacruisingguide_2018-2019
http://www.nxtbook.com/nxtbooks/ncl/stewardshipreport_2017
http://www.nxtbook.com/nxtbooks/ncl/annualreport_2017
http://www.nxtbook.com/nxtbooks/ncl/europecruisingguide1819_aunz
http://www.nxtbook.com/nxtbooks/ncl/charters18_latam
http://www.nxtbook.com/nxtbooks/ncl/cubabahamas1719_latam
http://www.nxtbook.com/nxtbooks/ncl/norwegianbliss_latam
http://www.nxtbook.com/nxtbooks/ncl/hawaiicruisingguide_2018-2021
http://www.nxtbook.com/nxtbooks/ncl/thehaven2018_latam
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2017-2019sp
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2018-2019
http://www.nxtbook.com/nxtbooks/ncl/norwegianjewel_201819aunzcruise
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2018-2019_aunz
http://www.nxtbook.com/nxtbooks/ncl/thehaven2018_de
http://www.nxtbook.com/nxtbooks/ncl/thehaven2018_es
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2017-2019_es
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2017-2019_it
http://www.nxtbook.com/nxtbooks/ncl/bestofalaska_asia2017
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2017-2019_fr
http://www.nxtbook.com/nxtbooks/ncl/norwegianbliss_aunz
http://www.nxtbook.com/nxtbooks/ncl/thehaven2017_aunz
http://www.nxtbook.com/nxtbooks/ncl/thehaven2017
http://www.nxtbook.com/nxtbooks/ncl/norwegianbliss
http://www.nxtbook.com/nxtbooks/ncl/deckbydeckasia_2017
http://www.nxtbook.com/nxtbooks/ncl/carribbeancruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/europecruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/nedeparturescruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/asiaaunzcruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/hawaiicruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/alaskacruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/southamericacruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/pcmrtrcruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/bestofalaska2017
http://www.nxtbook.com/nxtbooks/ncl/bestofeurope2017
http://www.nxtbook.com/nxtbooks/ncl/environmentalreport_2016v2
http://www.nxtbook.com/nxtbooks/ncl/environmentalreport_2016
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2017-2019
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2017-2019_ge
http://www.nxtbook.com/nxtbooks/ncl/norwegianjewel_201718aunzcruise
http://www.nxtbook.com/nxtbooks/ncl/annualreport_2016
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruises_allinclusive_2017-2019_uk
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruises_allinclusive_2017-2019_ce
http://www.nxtbook.com/nxtbooks/ncl/bestofcaribbeanandbahamas2017
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2016-2018_jp
http://www.nxtbook.com/nxtbooks/ncl/hawaiidestination_asia2017
http://www.nxtbook.com/nxtbooks/ncl/hawaiidestination_au2017
http://www.nxtbook.com/nxtbooks/ncl/hawaiidestination_nz2017
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2016-2018
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_2016-abril2018sp
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_fall2016-spring2018
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_201611-201804_fr
http://www.nxtbook.com/nxtbooks/ncl/worldwidecruisingguide_oct2016-apr2018
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_201611-201804_it
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_201611-201804_sp
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_201611-201804_no
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_201611-201804_ce
http://www.nxtbook.com/nxtbooks/ncl/norwegian_jewel_201609
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_201611-201804_de
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_201611-201804_uk
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_15-17_jp
http://www.nxtbook.com/nxtbooks/ncl/worldwide_cruising_guide_2016summer2017
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_16-17_destinations
http://www.nxtbook.com/nxtbooks/ncl/sun_no_brasil2016
http://www.nxtbook.com/nxtbooks/ncl/norwegian_jewel
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_16-17_aus
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_15-17_2edition
http://www.nxtbook.com/nxtbooks/ncl/casino_karina
http://www.nxtbook.com/nxtbooks/ncl/casino_charles
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_15-17_sp
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_15-17
http://www.nxtbook.com/nxtbooks/ncl/escape2015fall
http://www.nxtbook.com/nxtbooks/ncl/hawaii1517
http://www.nxtbook.com/nxtbooks/ncl/northeast1416
http://www.nxtbook.com/nxtbooks/ncl/caribbean1416
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_14-16_sp
http://www.nxtbook.com/nxtbooks/ncl/escape2015
http://www.nxtbook.com/nxtbooks/ncl/alaska2015
http://www.nxtbook.com/nxtbooks/ncl/deckbydeck_1415
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_14-16
http://www.nxtbook.com/nxtbooks/ncl/alaska14
http://www.nxtbook.com/nxtbooks/ncl/northeast1315
http://www.nxtbook.com/nxtbooks/ncl/hawaii1316
http://www.nxtbook.com/nxtbooks/ncl/europe1315
http://www.nxtbook.com/nxtbooks/ncl/bigships13-15
http://www.nxtbook.com/nxtbooks/ncl/deckbydeck_2013
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_13-15
http://www.nxtbook.com/nxtbooks/ncl/getaway_miami
http://www.nxtbook.com/nxtbooks/ncl/breakaway_201210
http://www.nxtbook.com/nxtbooks/ncl/hawaii
http://www.nxtbook.com/nxtbooks/ncl/cruisevacations1213-sp
http://www.nxtbook.com/nxtbooks/ncl/caribbean
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure
http://www.nxtbook.com/nxtbooks/ncl/northeastdepartures12-14
http://www.nxtbook.com/nxtbooks/ncl/alaska
http://www.nxtbook.com/nxtbooks/ncl/breakaways_chaptertwo_201205
http://www.nxtbook.com/nxtbooks/ncl/breakaways_chapterone_201205
http://www.nxtbook.com/nxtbooks/ncl/europe1214
http://www.nxtbook.com/nxtbooks/ncl/latitudes
http://www.nxtbook.com/nxtbooks/ncl/thehaven
http://www.nxtbook.com/nxtbooks/ncl/fleet_brochure_2011-13
http://www.nxtbook.com/nxtbooks/ncl/caribbean11-13
http://www.nxtbook.com/nxtbooks/ncl/cruisevacations1112-sp_2
http://www.nxtbook.com/nxtbooks/ncl/meetingsincentives
http://www.nxtbookMEDIA.com